Delhi HC dismisses challenge to restrictions on withdrawal from PMC Bank ...Middle East

The Delhi High Court has dismissed a petition by depositors of the PMC Bank challenging the restrictions imposed by the Reserve Bank of India (RBI) on withdrawals from their bank accounts. Justice Prateek Jalan said despite sympathising with the petitioners, he was unable to grant relief to them. Despite sympathising with the position in which the petitioners find themselves, I am unable to grant the relief sought in this petition. The petition, along with the pending application, is therefore dismissed, but without any orders as to costs, the court said in its order dated November 30. The court recorded that the PMC Bank was first restrained in 2019 from releasing an amount in excess of Rs

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